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Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey Beckman who wrote (6480)	1/18/1998 1:04:00 PM
From: Nittany Lion	Read Replies (1) \| Respond to of 10368

Jeff, . Does TurboTax recognize "washed sales"? At least from my understanding, I have a couple of such situations, but they seem to show as regular losses. You just answered your own question - if they are showing as regular losses then the program does not recognize the wash rule. I don't use Turbo but I would be surprised if any program on the market is that sophisticated - there are certain things you must input on your own. Even if it doesn't make any difference to you this year it will effect next year so you will want to do it correctly by adjusting the basis of each particular trade accordingly and then adding the unallowed loss to the basis of the new stock. Good luck, Gary